XML 71 R59.htm IDEA: XBRL DOCUMENT v3.22.1

Supplemental Financial Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		5 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021	Dec. 31, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 30.0			$ 35.9
Deposit Liabilities, Collateral Issued, Financial Instruments	$ 27.1			$ 31.1
Revenue Benchmark [Member] | Customer Concentration Risk
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	100.00%	100.00%
Revenue Benchmark [Member] | Geographic Concentration Risk | Floaters | US Gulf Of Mexico
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	41.00%	65.00%	13.00%
Revenue Benchmark [Member] | Geographic Concentration Risk | Jackups | SAUDI ARABIA
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	62.00%	57.00%
Revenue Benchmark [Member] | Geographic Concentration Risk | Jackups | MEXICO
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	93.00%	56.00%
British Petroleum | Revenue Benchmark [Member] | Customer Concentration Risk
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	16.00%	15.00%
British Petroleum | Revenue Benchmark [Member] | Customer Concentration Risk | Floaters
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	43.00%	43.00%
British Petroleum | Revenue Benchmark [Member] | Customer Concentration Risk | Jackups
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	13.00%	15.00%
Shell | Revenue Benchmark [Member] | Customer Concentration Risk
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	11.00%	9.00%
Shell | Revenue Benchmark [Member] | Customer Concentration Risk | Floaters
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	67.00%	62.00%
Shell | Revenue Benchmark [Member] | Customer Concentration Risk | Jackups
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	33.00%	38.00%
ENI | Revenue Benchmark [Member] | Customer Concentration Risk
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	10.00%	7.00%
ENI | Revenue Benchmark [Member] | Customer Concentration Risk | Floaters
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	42.00%	69.00%
ENI | Revenue Benchmark [Member] | Customer Concentration Risk | Jackups
Restricted Cash and Cash Equivalents Items [Line Items]
Concentration risk, percentage	58.00%	31.00%

X

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13531-108611

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13537-108611

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592

+ Details

Name:	us-gaap_ConcentrationRiskPercentage1
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:percentItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Amount of securities, mortgage loans, or other financial instruments pledged as collateral for deposits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818

+ Details

Name:	us-gaap_DepositLiabilitiesCollateralIssuedFinancialInstruments
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Definition

Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123431023&loc=SL98516268-108586

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(1)(a))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(2))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

+ Details

Name:	us-gaap_RestrictedCash
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	debit
Period Type:	instant

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_RestrictedCashAndCashEquivalentsItemsLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_ConcentrationRiskByTypeAxis=us-gaap_GeographicConcentrationRiskMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_StatementBusinessSegmentsAxis=val_FloatersMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_StatementGeographicalAxis=val_UsGulfOfMexicoMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_StatementBusinessSegmentsAxis=val_JackupsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_StatementGeographicalAxis=country_SA
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_StatementGeographicalAxis=country_MX
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_MajorCustomersAxis=val_BritishPetroleumMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_MajorCustomersAxis=val_ShellMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_MajorCustomersAxis=val_ENIMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: